Bitcoin

During the last seven days, Grayscale Investments purchased 17,100 BTC or $182 million worth of bitcoin using today’s exchange rates. The company’s bitcoin position is now close to 450,000 BTC worth roughly $4.7 billion. The Grayscale Bitcoin Trust (GBTC) is a very popular investment vehicle and in 2020 the trust has obtained a massive amount of BTC. Today, GBTC has $4.7 billion assets under management (AUM), according to data provided by bybt.com. Grayscale’s bitcoin position is also… Source link

Galaxy Digital CEO Michael Novogratz explains why it is a dangerous time to be in the stock market right now, leading up to the U.S. presidential election. While bearish on the dollar, Novogratz is bullish on bitcoin and gold but thinks that bitcoin has more upside than gold. Dangerous Time to Be in Stock Market, Buy Bitcoin Billionaire investor and Galaxy Digital CEO Michael Novogratz explained his view on the best investments as the November U.S. presidential election approaches in… Source link

With only 21 million Bitcoin (BTC) to be issued, a little under 2.5 million BTC remains for mining. In a tweet, ChartBTC said the Bitcoin network already passed the 18.5 million BTC mark in circulation. This means there is less than 2.5 million BTC left, or about 11.9% of the total Bitcoin to be generated. ChartBTC pointed out half of the remaining 2.5 million BTC will be mined in the next four years. Since the genesis block back in 2009, the Bitcoin network has already undergone three… Source link

Get Forbes’ top crypto and blockchain stories delivered to your inbox every week for the latest news on bitcoin, other major cryptocurrencies and enterprise blockchain adoption. (Photo by studioEAST/Getty Images) CRYPTO MARKETS Bitcoin slumped with the stock market Monday, falling more than 5%, after miners began selling at a higher rate on Sunday. Ether cooled off as well, and the average DeFi token has slumped 30% to 40% in recent weeks. Bitcoin showed more… Source link

A pseudonymous Bitcoin (BTC) trader outlined 23 key technical and fundamental factors that could buoy BTC’s medium-term bull case. The data points shared by the trader, known as “Byzantine General,” fit into four major themes. They are a less overheated market, a neutralizing futures market, less leveraged traders and strengthening fundamentals. The Bitcoin futures market is neutralizing Since Bitcoin’s recovery from $10,300, a persistent narrative around the top cryptocurrency has been… Source link

Volatility was expected throughout the week regarding the expiration of a significant amount of futures. However, this didn’t really happen while the macro-economic environment also remains uncertain. A hack of a major cryptocurrency exchange on Sep. 26 didn’t influence the price at all, which is a positive signal for the markets and a positive signal for the market’s maturity. However, is this boring price action going to continue for Bitcoin (BTC)? Let’s take a look at the charts.

In an official statement, KuCoin Global CEO Johnny Lyu confirmed a major hacking attack on Sep. 26. The breach affected the firm’s Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets, after private keys were leaked. Reports estimate the breach to have affected $150 million in user funds. Following the security breach, the price of Bitcoin barely moved, however. Other major cryptocurrencies, including Ether and decentralized finance (DeFi) tokens also remain relatively unfazed by the hack. A… Source link

Bitcoin and cryptocurrency trading is not for the faint of heart, as Dave Portnoy, the founder of the Barstool Sports blog-turned stock market day trader, learned this year. The bitcoin price, which has been bouncing around $10,000 per bitcoin since the beginning of September, has climbed through a tumultuous 2020—adding around 45%. Now, Portnoy has revealed he’s completely cashed out his $1 million bet on bitcoin and warned he thinks the cryptocurrency market is nothing more than a… Source link

Bitcoin (BTC) whale clusters indicate that the price could be in a short-term trend reversal after BTC’s recovery beyond $10,700. In the past two days, BTC price rose by nearly 6% from $10,135 to $10,755 across major exchanges. Whale clusters form when large investors accumulate Bitcoin and do not spend or move their holdings for significant periods of time. This typically indicates that whales expect BTC price to increase in the near term. The hourly map of Bitcoin whale clusters. Source: Source link

As September draws to a close, Bitcoin continues its pattern of consolidation above $10,000, but what is next? This marks the eighth week in a row that Bitcoin has traded consistently above $10k, a pattern of consolidation that many analysts believe may eventually give way to a bull run later this year. The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation According to data from CoinMarketCap, the price of Bitcoin appears to be continuously holding steady above the… Source link